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Most real estate agents will tell you this. The worst of the housing market slump is behind us. We have seen housing prices fall nearly 30% and are now ready to see some stability re-enter the market.. We should see the property market staying pretty flat all the way through to 2012, however before we see some stability be prepared for another fall of at least 8-10%.  The question that must be brimming through minds at the moment is: How is this going to affect me? Housing Market 2010: Consumer Outlook With changes in the property market, consumers can look forward to

On November 6th President Barrack Obama signed a bill extending and expanding the tax credit for first homebuyers. The $8,000 first home buyers tax credit has been extended till June 30. In addition to this the government has also decided to expand the tax credit to another $6,500 to encompass current home owners who are looking to make new purchases. Changes To The Homebuyers Credit In an interesting move by the government to spur market sales the government has extended the homebuyer tax credit to existing homeowners as well. In order to qualify for the homebuyer credit, homeowners should have

Many experts are of the opinion that the worst of the financial crisis is behind us. However, we are still not completely in the clear. It is always in the best interest of consumers to gauge their financial situation and not be lured in by rosy pictures painted by bankers, lending professionals, investment analysts and lending professionals. A common sense approach to the whole dilemma is that individuals are probably in the best position to judge their own financial situation in comparison to complex model created by professionals. The Consumer FInancial Protection Agency – What It Means This article is more in

The Obama government in line with its “Making Home Affordable Program” put into the place the Parallel Second Lien Program to help honest home owners combat the growing financial pressure and stay in their homes longer and achieve greater affordability. These 2nd lien efforts are being taken to help home owners keep their houses and in tandem combat the growing US foreclosure situation and stabilize the housing market which in turn will strengthen the economy. Main Aim Of The Second Lien Program The Parallel Second Lien Program is designed to work in tandem with the first lien program under the

The US economy, since the fall in the first week of July 2009, has yet again seen a fall in he number of mortgage applications in September 2009, according to a report released by the Mortgage Bankers Association. However this is no reason to panic. Although the fall in mortgage applications marked the end of a 2 week climb in the numbers there is still a lot of positive market information out there and consumers should be able to take heart from it. The number of US mortgages declined by 3.1 percent in comparison to the week ended 28th August. In

With the recent release of the FICO 08 by Fair Isaac, consumers seem to be unsure as to how this new credit system and modified credit scoring system is going to affect their credit scores. FICO 08, which replaces its predecessor, the traditional FICO, is all set to change the credit scoring system. While the new method of credit scoring has brought with certain boons for consumers, there are also a few hazards attached to the new system. FICO 08Credit Score System For Credit Cards With the new FICO 08, if your credit card issuer slashes your credit card balance,

Amidst speculation that its capital reserve ratio, which is congressionally-mandated, might be falling below 2%, the Federal Housing Administration (FHA) on 18th September 2009 announced new changes to its credit policy. In addition to this the FHA commissioner, David H Stevens announced that for the first time in its 75 year history, the FHA will appoint a Chief Risk Officer. Both changes are in sync with the fact the agency’s independent actuarial study is being completed and is being sent to Congress in November. The above mentioned changes to a credit policy are believed are going to strengthen the FHA. The